Payment Solutions

In the cashless society system there is no need to carry money inform of coins or cash, which will reduce insecurity and crime. When people are travelling, the foreign currency is not necessary because money will be transferred electronically. In cashless society, there is no forgery of currency and people get the exact value for […]

Institute of Chartered Accountants of Nigeria (ICAN) has described the extension of cash-less policy to Kano State as an unripe move, capable of impacting negatively on economic activities and discourage depositors from banking. Also, businessmen in the state insisted that transactions remain the prime choice of the people. Speaking with The Guardian yesterday, ICAN Chairman, […]

The MD/CEO of Globasure Technologies Limited Mr. Chris Ife, stated in an interview yesterday at USA, regarding the way forward on the Nigeria Cashless policy as been gathered by the reports crew He stated: Three new trends will impact Nigeria in the months to come. Technological and political developments are forcing companies to adjust strategies […]

The cashless policy of the CBN which took off in Abia on Monday has attracted mixed reactions from members of the public. Many residents in Umuahia were still in the dark on the operations of the policy. Mrs Anthonia Enyinnaya, a trader in Umuahia, said that the commencement of the policy took many people by great […]

FOR the cashless policy introduced by the Central Bank of Nigeria (CBN) to achieve its set goals, there must be in place, regular public education, functional infrastructure, harmonisation of monetary and fiscal policy and effective regulatory measures to protect bank clients from electronic fraud,  and among others. The MD/CEO Globasure Technologies Limited Mr. Chis Ife […]

The Central Bank of Nigeria (CBN)  on Tuesday yesterday announced the deferment of charges for individuals and corporate account holders who wish to withdraw or lodge cash above the prescribed limits in the Federal Capital Territory (FCT) and the five states where the policy was recently commenced till October 1, 2013. The other states are […]

The maximum amount of transactions over-the-counter (OTC) cash withdrawal for third-party cheques of N150,000.00 presently operational in Lagos has been extended nationwide effective June 1, 2013 for individual and corporate accounts. Further to this, the CBN cashless policy will commence in the Federal Capital Territory (Abuja) and five other states namely: Abia, Anambra, Kano,Ogun and Rivers effective July 1, 2013. Consequently, the following modalities […]

After 18 months of running a pilot scheme of the cashless banking policy in Lagos State and several postponements of its extension to other states, the Central Bank of Nigeria (CBN) has, finally, extended the policy to Abuja and five states namely Abia, Anambra, Kano, Ogun and Rivers. The policy takes effect from today. According […]

Bank customers in the Federal Capital Territory (FCT) are still grappling with the Central Bank of Nigeria (CBN’s) cashless policy, which commenced  Monday. The other states where the initiative commenced  Monday were Rivers, Kano, Anambra, Ogun and Abia. Globasure  News Updates(GNU)  findings in the FCT showed that some bank customers still brought third party cheques […]

The Central Bank of Nigeria (CBN), on Monday said a lot of grounds have been covered in the move towards drastically reducing the use of cash for transactions across the country as captured in the cashless policy initiative. According to the apex bank, a total of N64 billion have been transferred through mobile banking platforms over […]